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$1700 in ebay sales for the year and 52 transactions...
Why the 1099-k...both are WAY below the thresholds...any thoughts...not a busuiness...just and individual
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Ok I'm also confused. I'm under $20K, under 200 transactions, in MA, selling junk and I really didn't think I needed to report cleaning out my basement. But I received a 1099-K. That form says it it would only be sent for 200+ transactions and $20K+ but clearly that's not the case.
I read googling around that they do not send a copy of this to the govt because it didn't meet those threshholds? I don't itemize, I don't run a business, just want to keep my taxes simple and was looking for something specific that says in 2017 they are reporting to the govt unless its 20K/200 transactions. Not to mention then I have to go back and figure out all the ebay, paypal fees, shipping costs, etc. It's not worth it to sell anything on eBay if I have to jump through tax hoops come tax time.
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Thanks for posting about the MA/VT thing. This is totally fxxked up! I dunno if I still have receipts to prove that I didn't make money on the things I sold. I'm mad that they have to go after us for cleaning out our closets or just getting rid of things we don't use anymore!
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I received a 1099-K form this year.
-85 transactions
-WAY less than 20,000 in sales
-Do NOT live in MA/ VT
Called up PayPal and they said they sent it out "because it's required" even though I don't meet ANY of the needed qualifications and to contact my accountant for more information.
Any help?
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I don't understand why I just received a 1099k when I only made $828.00 last year with only 95 total transactions for the year. Does anyone have any idea thansk
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I should state that this aws through Paypal being the third party processor. Paypal sent me the form. I looked on my account and there are no tax documents to download for 2017, yet I just received this 1099k in the mail.
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I just got one today with a total of $12,257.35 in sales with 130 transactions. I am **bleep**ing **bleep**. I sold my car with eBay but didn't think I would be getting a 1099k. I will now have to jump hoops to not have to pay taxes on this **bleep**. fml
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someone just posted today that state wants it if you have more than $599,state by state ,they want their share of the pie.
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wrote:I just got one today with a total of $12,257.35 in sales with 130 transactions. I am **bleep**ing **bleep**. I sold my car with eBay but didn't think I would be getting a 1099k. I will now have to jump hoops to not have to pay taxes on this **bleep**. fml
just curious,wont you be selling your car at a loss?
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